18,400 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Monolith Management Ltd

Monolith Management Ltd bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,400 shares of the social networking company’s stock, valued at approximately $10,533,000. Meta Platforms comprises 6.2% of Monolith Management Ltd’s holdings, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC bought a new stake in Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the third quarter valued at $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the third quarter valued at about $49,000. Finally, NewSquare Capital LLC lifted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,656 shares of company stock valued at $61,933,867 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 1.5 %

META stock opened at $573.54 on Wednesday. The firm has a market cap of $1.45 trillion, a PE ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a fifty day simple moving average of $573.38 and a 200 day simple moving average of $525.35. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

Several research firms have commented on META. Piper Sandler raised their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JMP Securities raised their price objective on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Evercore ISI boosted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.71.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.